EXHIBIT 11
COMPUTATION OF EARNINGS PER SHARE
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THREE MONTHS ENDED NINE MONTHS ENDED
September 30, September 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net (loss) per share - basic and diluted:
Numerator, net (loss) .............. $ (1,244,229) $ (1,657,359) $ (2,698,181) $ (3,533,678)
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Denominator, weighted average shares
Outstanding .................... $ 16,352,615 $ 11,320,281 $ 16,352,615 $ 11,320,281
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Net (loss) per share - basic and diluted:
Net (loss) per share ............... $ (0.08) $ (0.15) $ (0.16) $ (0.31)
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